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Austria.
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Fintech CASHY receives millions in investments

From l. to r. - Cashy GmbH: Florian Sulzer, Patrick Scheucher, Thomas Mang © CASHY GmbH

With over 40,000 products in the CASHY database, the valuation takes place objectively, transparently and in a matter of seconds. The customer-oriented software platform can map all processes, from the evaluation of an object to the payment of the amount of money, in a paper-free and a virtually contactless manner. The item itself can be sent in by post, picked up by the courier service or, if necessary, delivered personally to one of the two shops in Vienna. In return, the customers receive cash or else the amount of money is transferred to an account or via PayPal. In turn, these items, frequently electronic goods which contain rare materials and raw materials, are returned to the economic cycle.

Artificial intelligence calculates the future value of an object

The processes, which are easily facilitated for a used car on the basis of the Eurotax list, usually involve a visit to an expert assessor for determining the value of used valuables. The CASHY platform enables people to avoid having to personally go these experts. Complex algorithms are applied to calculate the current value. With the help of artificial intelligence, it should be possible to take dynamic price developments into account when calculating the future value.

The seed financing round is led by the aws Gründerfonds (founding fund), and the existing investors KK Incube Invest Management GmbH and Michael Müller are also participating in the round. Ralf Kunzmann, Managing Director of the aws Gründerfonds, explains the reasons for the investment: "Cashy recognized the opportunity in a completely under-digitalized and simultaneously fast-growing market and enjoys a clear competitive advantage over traditional players thanks to its positioning. The potential increase in value that results from the positioning as a technology provider in B2B partnerships is particularly attractive. "

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